HUDCO To Finance Rs 14,500 Crore Housing, Infra Projects In Gujarat

Housing and Urban Development Corp. will invest up to Rs 14,500 crore to finance housing and urban infrastructure projects in Gujarat.

The company has signed a Memorandum of Understanding with the Gujarat government for the projects, an exchange filing said on Wednesday.

The MoU was inked by HUDCO Chairman and Managing Director Sanjay Kulshrestha and state officials in the presence of Chief Minister Bhupendra Patel.

The state government has invited proposals for investments from banking and financial services institutions for housing and infrastructure projects ahead of the 'Vibrant Gujarat Summit 2024' that will be held in January.

Shares of HUDCO closed 8.16% higher on Wednesday, after the announcement, compared to a 0.98% advance in the benchmark BSE Sensex.